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29 Jun, 2006 06:23

Rosneft finds new reserves at Sakhalin

Rosneft finds new reserves at Sakhalin

Russia’s third-largest oil producer, state-owned Rosneft, has reported finding new oil and gas reserves in the Russian far east.

Sakhalin island is known to be an oil-producing giant. The platform named Orlan – meaning sea-eagle in Russian – is part of the Sakhalin-1 project, where Rosneft is already working with Japanese and Indian oil production companies and Exxon Mobil.

Oil is due to flow from Orlan by the year-end.

Personnel on Sakhalin work fast, between 12 and 14 hours a day, seven days a week. Every day is worth millions of dollars in oil. 

Experts say Sakhalin will become the main oil supplier in AsiaJapan, South Korea and China are hungry for energy.